American Battery Technology (NASDAQ:ABAT) Sees Significant Decrease in Short Interest

American Battery Technology (NASDAQ:ABAT) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 5,330,000 shares, a decrease of 21.8% from the November 30th total of 6,820,000 shares. Approximately 7.2% of the company’s stock are short sold. Based on an average daily trading volume, of 2,510,000 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Dopkins Wealth Management LLC boosted its position in American Battery Technology by 76.5% during the third quarter. Dopkins Wealth Management LLC now owns 50,000 shares of the company’s stock valued at $54,000 after purchasing an additional 21,664 shares during the last quarter. State Street Corp increased its holdings in shares of American Battery Technology by 26.9% in the third quarter. State Street Corp now owns 204,200 shares of the company’s stock valued at $218,000 after purchasing an additional 43,300 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of American Battery Technology by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 645,063 shares of the company’s stock worth $690,000 after buying an additional 40,169 shares during the period. 9.88% of the stock is currently owned by institutional investors.

American Battery Technology Trading Down 9.2 %

Shares of ABAT stock traded down $0.31 during trading hours on Monday, hitting $3.05. 5,164,746 shares of the company were exchanged, compared to its average volume of 1,329,313. American Battery Technology has a 52 week low of $0.73 and a 52 week high of $4.68. The business has a 50 day moving average of $1.12 and a two-hundred day moving average of $1.07. The company has a market capitalization of $233.31 million, a PE ratio of -3.11 and a beta of 2.16.

American Battery Technology Company Profile

American Battery Technology Company operates as a battery materials company. The company explores for resources of battery metals, such as such as lithium, nickel, cobalt, and manganese; and develops and commercializes technologies for the extraction of battery metals, as well as commercializes integrated process for the recycling of lithium-ion batteries.